Hey there! Can you recommend some good resources that can help me learn about pricing a new product when launching it in the market? Thanks!

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Always go for value based pricing but know how to reach your breakeven point

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Rocketblocks

Learn the 3 general approaches:

1. Cost-based pricing (cost per unit + desired margin per unit)

2. Market-based pricing (based on market prices and your product’s specs, positioning, etc. how much should you price them?)

3.) Value-based pricing (what is the value of product to purchaser? E.g., it saves them money, it increases their revenue, it stops them from buying a substitute product, etc. also considering their price elasticity, willingness to pay, etc)

Also consider industry-specific factors — e.g., pharma — patents, branded vs generics, regulatory factors, % of cost paid by insurer, prescription vs OTC, etc.

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